Discuss the benefits to QRL of using marketing techniques such as the PLC and Boston Matrix to help make a decision about its product portfolio. (16 marks) The Boston Matrix and the product life cycle are tools to help a business assess its range of products. The business can assess whether it has a balanced portfolio and whether it has sufficient profit makers and revenue generators both now and in the future. Star products such as the ….... are already profitable and the high potential for growth will mean it will become more significant in the future. They are the cash cows of the future.
However, as for the summary of the article I will explain how each of the forces model relates to this article. The purchasing power which is also known as the buyer power is higher when the buyers have more choice. The companies are forced to add value to their products and services in order to maintain their loyalty. Many bonus programs are excellent services that customers want on-line. Customers want to solve their problems and often are more successful on-line and on phone.
The Company had had enormous success in competing with the world renowned brands. It has created a unique position in the minds of the consumer that leads to sustain sales, as well as, result in higher brand loyalty and customer retention rate. The case study presents details of the management and operation of Zara with complete description and analysis. The case presents several facets of its management that lead to a better management. The case focuses upon strategic planning and management using several management tools to excel in the market on a quite sustainable basis.
Therefore, in order to stay competitive, Satre has decided to focus on Harrah’s core competency, which is customer loyalty. In this connection, he has worked towards hiring a competent team, which in turn has developed a data-driven marketing strategy. While at the time, Harrah’s seems to be reaping the benefit of these efforts with a 100% growth in stock price and profits; Satre is concerned with determining how much these marketing efforts had actually contributed to increased profitability, and whether these improved results were actually sustainable or simply a one-off occurrence. SWOT Analysis Strengths | Weaknesses | - Investment in Information Technology | - Inability to compete on 'innovation' with the newer casinos (eg. Mirage and MGM) | - Excellent customer service (as recognized by Casino Player Magazine) | - It is an over 50-year-old company, making across-the-board facility upgrades difficult & expensive | - 50% growth in revenue (higher than industry average) | | - 100% growth in stock price and profits | | - Patented integration of IT network across Harrah's properties | | - Data-driven
This will show us how much customers like our product and if our performance and size fit their preferences. Another estimate that we could have is by multiplying the growth rate by the current unit demand of a segment and then multiply this answer by our current market share. This will give us an estimate according to the increase demand of the population who are interested in this market. Finally, our last strategy was the market share report in the Capstone courier, which we considered our best strategy since it is the most detailed and accurate one. This strategy is more accurate because it shows us in cases where a product stocked out, how much it would have sold since this affects all of the competitors sales for next year.
OTISLINE CASE ANALYSIS Q1. What might be the motivation for Otis to launch this project? The following are the reasons identified as the major motivations to launch the OTISLINE project -: High profits in service Industry Service contracts were sought after as these accounted for high profits. The service market was a stable market. Otis, thus, decided to focus on the way it delivered service and the qualitative aspects of service.
In the service sectors, the cost saving from offshoring enables companies to create new service lines, many of which had been deferred for want of investment. New services increase customer satisfaction and become new revenue streams, as well as growth paths for companies. The geographic nature of offshoring brings its own advantages. It helps the company expand its reach, thereby helping the company grow. This growth mitigates any negative effects of offshoring.
If your image is excellent, it will make your company stand out from its competitors. Since the 1894 Mark and Spencer Company always offers products with the highest standards and quality and pride of services. So they manage good reputation and good image in the market. Because of the good quality and the pride of the service consumer building trust on the company. • High recognition of brand.
Take care of our members, because members are Costco’s reason for being who is the key to Costco’s success. c. Take care of our employees, as the most important asset, be provided with rewarding challenges and opportunities for personal and career growth. d. Respect our suppliers, as business partners e. Reward our shareholders, by providing them with a good return on the money they invest in Costco. 2. Setting objectives: high sales volumes and rapid inventory turnover.
They’re able to monitor and track the productivity within the supply chain allowing them to increase productivity in the sectors they feel necessary which leads them to processing more efficiently and effectively; which in results brings in more revenue to the company allowing them compete by investing more money not within the company but also within the future technology for the company. Having RFID allows Boeing to reduce cost within the company by not misplacing, losing their products within the shipment off flyable and non-flyable goods. By having products or shipments off thousands off dollar not being misplaced allows the company to save and reduce cost in that portion of the company. As well as, biggest advantage in reducing cost would be the time spent on looking for lost or misplaced parts. People tend to state “Time is money”, by having the RFID implemented for the company, reducing time spent searching on the misplaced parts could help them replace their time in doing something more productive for the company.